공시 • Jan 21
Mithril Drills High-Grade Gold-Silver At Target 1 and Further Expands the District Scale, Copalquin, Mexico
Mithril Silver and Gold Limited to provided exploration success at Mithril's district scale Copalquin property, Durango State, Mexico. Mithril is undertaking an aggressive exploration program in 2026, with 25,000 metres of drilling planned during the first half of the year across the Copalquin District. Upcoming work will focus on expanding known mineralized zones, testing new high-priority targets, integrating district-wide geophysical data, and continuing to advance the Company's district-scale exploration thesis. The district features over 100 historic underground workings including several notable producing multi-level mines and 200 surface workings. Mapping and sampling across the lower half of the 70 km mining concession area demonstrates and a large epithermal silver-gold system with multiple target areas for potential resource growth plus the conduit system responsible for the widespread silver and gold mineralisation. The nearby 20 km2 La Dura property has recently been added to the portfolio providing where a LiDAR survey has been flown (interpretation anticipated in February 2026) and will undergo and aerial magnetic survey upon completion of the aerial magnetic survey at Copalquin commencing in January 2026. Drilling continued throughout 2025 at the Target 1 area aiming to expand the maiden resource. The results throughout the year and reported in this announcement have continued to successfully expand the footprint and fill in areas with the objective to bring more tonnes into classification for a mineral resource estimate (MRE) update. Approximately 3,000 metres of drilling is to be completed in First Quarter 2026 to finalise the drilling for the MRE update. 3D modelling of the updated geology including the post mineral intrusive unit has created a robust and predictable model for the upcoming MRE. Recently received drill results have intersected very high-grade gold and silver and provided supportive geological control data for the Target 1 model. Assay highlights include: 1.55 m @ 2.11 g/t gold, 5.5 g/t silver from 24.65 m (MTH-RE25-54), plus 1.35 m @ 21.9 g/t gold, 357 g/t silver from 142.75 m, including 0.50 m @ 57.7 g/t gold, 924 g/t silver from 143.6 m; 3.05 m @ 1.68 g/t gold, 107 g/t silver from 52.0 m (MTH-LS25-53), including 0.50 m @ 9.60 g/t gold, 612 g/t silver from 52.0 m, plus 2.80 m @ 2.29 g/t gold, 60.3 g/t silver from 65.25 m, including 0.50 m @ 10.6 g/t gold, 298 g/t silver from 67.55 m, plus 4.40 m @ 2.18 g/t gold, 14.6 g/t silver from 77.2 m 0.50 m @ 15.5 g/t gold, 66.1 g/t silver from 81.1 m. Drilling on the western end of the resource area at Target 1 has continued to provide further evidence of continuation of the east-west mineralised structure plus extensive hydrothermal alteration. In a low sulphidation epithermal deposit, the presence of a wide alteration halo combined with silver-rich mineralization is a strong indicator of a robust, long-lived hydrothermal system and has important implications for both scale and exploration potential. A broad alteration halo reflects extensive circulation of neutral to weakly alkaline hydrothermal fluids through permeable structures and surrounding wall rocks. Alteration assemblages commonly include quartz, adularia, sericite, with variable carbonate, chlorite and locally developed clay alteration. The breadth of alteration indicates that fluid flow was not restricted to narrow vein conduits, but instead affected a large volume of rock, increasing the likelihood of multiple mineralized structures, stacked veins, or locally disseminated mineralization. From an exploration standpoint, wide alteration halos provide large, mappable footprints that can be detected through mapping, geochemistry, and remote sensing, allowing effective vectoring toward higher grade zones. Silver mineralization is a characteristic feature of low sulphidation epithermal systems and commonly occurs as electrum, acanthite, native silver, silver sulfosalts, or Ag-bearing base metal sulphides. Elevated silver grades often reflect boiling, fluid mixing, or rapid pressure changes within the epithermal environment, processes that are also efficient at precipitating gold. Silver rich zones may be laterally or vertically offset from gold dominant zones, commonly occupying higher or more distal portions of the system, and therefore provide valuable vectors toward potentially gold rich feeder structures at depth or along strike. Together, a wide alteration halo and significant silver mineralization suggest a well-developed epithermal system with favourable permeability architecture and strong hydrothermal flux. This combination increases the probability of discovering additional veins, higher grade shoots, or vertically zoned precious metal mineralization, and supports the potential for a district scale mineralized system rather than isolated, narrow veins.